It said with
the rise of Aqua Boracay, the last single big development project on the resort
island, only 168.5 hectares of disposable and alienable land were left for
future developments.

“There is
increased capital appreciation in the island given the diminishing availability
of developable land,” said Liz Silvestre, associate director for investment
properties and capital markets of CBRE Philippines.

The company
said in Cebu, the upcoming availability of 1,267 hotel rooms could increase
occupancy rate to about 80 percent from the current 67 percent to 73 percent.

It said the
new developments in Boracay and Cebu and the aggressive campaign to promote
Palawan would boost leisure tourism in the country.

The
government hopes to attract 5.5 million international visitors in 2013, up from
the 4.3 million arrivals registered in 2012.Silvestre said hotel and resort developers should take advantage of the
industry growth.

“The timing
should be now to fully maximize the full potential of their investment,”
Silvestre said.